All Forum Posts by: JooYung Choi

@Brett Grz 

Hey Brett! I am also in NJ and would love to connect and share investing strategies. 

We can keep each other accountable with our goals! 

IF STR doesn't work out, you could always try the MTR route. Since the unit will already be furnished, it would be an easy transition into the space.

Hello BP!

I am a licensed LTC Pharmacist with ambition to provide optimized living solutions and personalized care for our elderly.

I want to invest/start my own assisted living care facility and I would love to connect with investors that are already in this space. 

I can connect you with a cohosting company that specializes in MTR's in the area!

I agree with the other answers here about condos. Some HOA's will not allow you to rent out rooms in your unit while you are living there.

If you can't land a MFH, SFH is still a great option. Lookout for the homes with unique layouts (mother in law units, finished basements, etc) and be creative with your livable space!

Hey Fabrice. 

If you are house hacking, then you will be using an owner occupied loan. Most lenders will be able to fund you. Make sure you call around and speak to a couple lenders before you make your decision!

FYI, the lender will be able to use 75% of projected rental income for the other unit to further help you qualify for the mortgage.

I use Innago. 

With any platform, you will find things you like and dislike so I'd recommend trying them out and seeing if they are a good fit for you.

You could consider the LLC paying you a property management fee for the extra work that you are doing for the deal

Not sure about any conferences but there are a handful of good REI meet ups! I messaged you with more info.

I second @Brooklyn McCarty suggestion about self managing & Avery Carl's book. STR property management is costly!

However, if you do not want to deal with guests at all, you could consider finding a good cohost. They won't be as expensive as a property management company and they essentially do the same work. Also Mid Term Rentals will be a stronger move in the areas you are looking at.